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    Gated Community Homesite with Lake Views Title is generated by Realmo AI

    1076 Enchanted Rock Court, Graford, TX 76449

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    Claim this Listing
    For Sale
    $40,000

    LAND - Graford, TX

    Lot size:
    2.01 Acres
    Added:
    Mar 17, 2026
    Days on Market:
    81
    Last Refresh:
    Jun 5 at 2:06 pm

    Property Features for 1076 Enchanted Rock Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded, Grassed, Brush
    Standard status
    Active
    APN
    35487
    Lot size
    2.01 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 2.010 LOT: 551-R HILLS ABOVE POSSUM KINGDOM

    We can help!

    Listing Contact
    Stephanie Evans

    Listing agent Stephanie Evans License #0757788

    Listing office United Real Estate DFW Grapevine, TX

    Listing date Mar 17, 2026

    MLS# 21160899 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2‑acre cul‑de‑sac homesite in a gated northern Hill Country community in Hills Above Possum Kingdom Lake
    • Upper portion of the lot is relatively flat and provides an established building site for a custom home
    • Valley and Possum Kingdom Lake views, plus natural stone‑lined trails across the property
    • Water and electricity available at the street; CCRs require a minimum 2,500 SF residence
    • Neighborhood amenities included: boat storage, community boat ramp and dock, clubhouse with pool and fitness center, fishing pond, lake access, picnic area/cabin, and nature trails
    • Access to more than 20 miles of private gated roads within the neighborhood

    Overview

    Set on a cul-de-sac within a gated northern Hill Country community, this 2-acre homesite offers privacy, natural beauty, and established character. The lot features native trees, natural stone, and elevation changes, with natural stone-lined trails that wind through the property. The upper portion is relatively flat, providing a practical building area for a custom home designed to capture scenic valley and Possum Kingdom Lake views.

    Utilities are available at the street, and there is no requirement to build immediately, giving you flexibility on timing and builder selection. Homeowners also benefit from community amenities tied to lot ownership, including boat storage, a community boat ramp and dock, clubhouse with a pool and fitness center, fishing pond, lake access, a picnic area with cabin, nature trails, and more than 20 miles of private gated roads for neighborhood use.

    For buyers looking for acreage living with a lake recreation lifestyle, this property supports that balance while keeping the build requirement clear through CCRs, which require a minimum 2,500-square-foot residence. The seller also offers thoughtfully designed home plans that may be customized when you’re ready to move forward.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Department Store HVAC Service Grocery & Convenience Store Wine and Liquor Store Car Rental Facility Restaurant Florist

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.2671
    Latitude
    32.9289

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    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready cul-de-sac lot in a gated Hill Country community with lake views and resort-style recreation amenities.
    Where is this residential land & home lot located?
    The property is located at 1076 Enchanted Rock Court Graford, TX.
    What is the asking price?
    The asking price for this property is $40,000.
    What are key features of this property?
    This property features: 2‑acre cul‑de‑sac homesite in a gated northern Hill Country community in Hills Above Possum Kingdom Lake; Upper portion of the lot is relatively flat and provides an established building site for a custom home; Valley and Possum Kingdom Lake views, plus natural stone‑lined trails across the property
    (817) 360-8499
    We can help!
    Listing Contact
    Stephanie Evans
    Real Estate License ID: 0757788
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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